Kromek Group PLC Kromek receives additional $1m in CBRN orders (7721R)
October 31 2023 - 3:00AM
UK Regulatory
TIDMKMK
RNS Number : 7721R
Kromek Group PLC
31 October 2023
31 October 2023
Kromek Group plc
("Kromek" or the "Company" or the "Group")
Kromek receives additional $1m in CBRN orders
Nuclear security and bio-security orders from new and existing
customers globally
Kromek Group plc (AIM: KMK), a leading developer of radiation
and bio-detection technology solutions for the advanced imaging and
CBRN detection segments, announces that it has secured three
further orders totalling over $1m in the CBRN detection
segment.
This includes two orders in nuclear security, with one order for
the further development of the Group's bio-security technology .
The majority of the revenue will be recognised in the current
financial year, which helps to underpin forecasts along with the
recent $5.9m contract from the US Department of Homeland
Security.
Arnab Basu, CEO of Kromek, said: "Geopolitical insecurity,
combined with other global threats, continue to drive demand for
our products that contribute to ensuring public safety and
security. Governments and their agencies buy our products because
they are best-of-breed and we have the ability to deploy rapidly.
The receipt of orders from existing customers is testament to the
strength of our offer and the value of our products to our
customers. We are also pleased to have received an order from a new
customer that is a substantial, global defence corporation, which
we believe represents a significant opportunity for further sales.
With the sustained commercial momentum in CBRN, we look forward to
receiving further orders in due course."
For further information, please contact:
Kromek Group plc
Arnab Basu, CEO
Paul Farquhar, CFO +44 (0)1740 626 060
Cavendish Capital Markets Limited (Nominated
Adviser and Broker)
Geoff Nash/Giles Balleny/Seamus Fricker -
Corporate Finance
Tim Redfern/Charlotte Sutcliffe - ECM
Michael Johnson/Tamar Cranford-Smith - Sales +44 (0)20 7220 0500
Gracechurch Group (Financial PR)
Harry Chathli/Claire Norbury/Henry Gamble +44 (0)20 4582 3500
Kromek Group plc
Kromek Group plc is a leading developer of radiation detection
and bio-detection technology solutions for the advanced imaging and
CBRN detection segments. Headquartered in County Durham, UK, Kromek
has manufacturing operations in the UK and US, delivering on the
vision of enhancing the quality of life through innovative
detection technology solutions.
The advanced imaging segment comprises the medical (including CT
and SPECT), security and industrial markets. Kromek provides its
OEM customers with detector components, based on its core cadmium
zinc telluride (CZT) platform, to enable better detection of
diseases such as cancer and Alzheimer's, contamination in
industrial manufacture and explosives in aviation settings.
In CBRN detection, the Group provides nuclear radiation
detection solutions to the global homeland defence and security
market. Kromek's compact, handheld, high-performance radiation
detectors, based on advanced scintillation and solid-state readout
technology, are primarily used to protect critical infrastructure,
events, personnel and urban environments from the threat of 'dirty
bombs'.
The Group is also developing bio-security solutions in the CBRN
detection segment. These consist of fully automated and autonomous
systems to detect a wide range of airborne pathogens.
Kromek is listed on AIM, a market of the London Stock Exchange,
under the trading symbol 'KMK'.
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